Comprehensive Development Agreements

Sec. 370.305. COMPREHENSIVE DEVELOPMENT AGREEMENTS. (a) A comprehensive development agreement is an agreement with a private entity that, at a minimum, provides for the design and construction of a transportation project, that may provide for the financing, acquisition, maintenance, or operation of a transportation project, and that entitles the private entity to: (1) a leasehold interest in the transportation project; or (2) the right to operate or retain revenue from the operation of the transportation project. (b) An authority may negotiate provisions relating to professional and consulting services provided in connection with a comprehensive development agreement. (c) Except as provided by this chapter, an authority's authority to enter into a comprehensive development agreement expires on August 31, 2011. Added by Acts 2003, 78th Leg., ch. 1325, Sec. 2.01, eff. June 21, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 264 (S.B. 792), Sec. 4.02, eff. June 11, 2007. Acts 2011, 82nd Leg., R.S., Ch. 1345 (S.B. 1420), Sec. 37, eff. September 1, 2011.